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Ichimoku Analysis (Hourly chart)
Tenken-Sen- 136.47
Kijun-Sen- 135.94
GBP/JPY was trading higher and recovered more than 700 pips from low of 130.69. The pair is holding above Cloud for more than 4 hours. So jump till 138.16 (100- H MA)/139.50/140.
On the lower side major support is around 136.30 and any break below targets 135/133.16.
It is good to buy on dips around 136.80-85 with SL around 136.30 for the TP of 138.15/140.
Resistance
R1- 137.20
R2 - 138.15
R3- 139
Support
S1- 136.30
S2- 135
S3- 133.15
